Financial savings are a giant deal in Nigeria, with hovering inflation and a cost-of-living disaster. For younger Nigerians, balancing powerful macroeconomic situations with bold monetary targets requires progressive and accessible methods to handle cash. Enter fintech startups—glossy apps that promise extra flexibility and management than conventional banking programs.

However which fintech apps are literally making a distinction for younger folks, and why? TechCabal spoke to 10 younger Nigerians who shared their favourite fintech instruments and the way these apps are serving to them keep financially afloat amid uncertainty.

Kunle* 25 — Content material Author 

Kunle makes use of PiggyVest for its comfort. ‘It’s extra versatile for saving and withdrawing,’’ he says. He additionally makes use of Pocket (built-in into PiggyVest) for charge-free transfers, calling the mixture of each apps a seamless resolution for managing his funds.

Chidi* 24 — Advertising Strategist

Chidi makes use of a spread of financial institution apps to handle his cash. “I largely use VFD, Kuda, or, sometimes, GT Financial institution—GT looks like a household financial institution for me. VFD provides ease of service and responsive buyer assist,” he shares. “Plus, they offer me month-to-month curiosity on my steadiness, so I don’t hold financial savings elsewhere.”

To handle his bills, Chidi tracks his spending with Pockets, an app that helps him monitor each bills and anticipated credit. For investments, he combines Bamboo and Risevest. “Bamboo lets me select which corporations to put money into—it’s a bit riskier and requires extra monetary know-how. Risevest, however, is extra beginner-friendly with pre-selected portfolios,” Chidi explains.

Erivic 25 — Comedian Ebook Artist and Creator

For Erivic, Cowrywise is the proper platform for disciplined saving. “It consolidates all my funding portfolios in a single place,” he says. He additionally makes use of Yellowcard, a cryptocurrency buying and selling app, which he appreciates for its beginner-friendly interface that makes navigating the world of crypto simpler.

Daniel 27 — Founder, SpaceBar Africa

Since 2020, Daniel has relied on Chaka, an funding app that gives entry to Nigerian and U.S. inventory markets. “It’s very straightforward to make use of, and their customer support is all the time responsive,” he says. He additionally saves with Wet Day, a greenback cooperative app.

Seyi 25 — Thumbnail Designer

Seyi makes use of Geegpay to obtain funds in U.S. {dollars} from worldwide purchasers. “It provides me a digital USD account, making it straightforward to obtain funds rapidly,” he says. He additionally appreciates the power to transform these funds into naira at aggressive charges and withdraw them to his native account.

For funds in kilos, Seyi makes use of Gray. “Accessing a digital GBP account makes receiving funds from UK-based purchasers seamless,” he explains. To save lots of, Seyi turns to PiggyVest. “It’s helped me construct disciplined financial savings habits with its automated options. The flexibility to set particular financial savings targets or lock funds for a set interval helps me keep away from impulse spending.”

Louis 32 — Advertising Specialist 

Louis turned to Opay in the course of the 2023 money crunch and hasn’t appeared again. “I deposit my wage on the app and use it for all my spending. The person interface is beginner-friendly and environment friendly,” she says. To maintain her funds in verify, she makes use of MyMoney, an app that categorizes earnings, bills, and transactions for higher visibility.

Adora Ayodeji 21 — Pupil

For Adora, Opay is her go-to for on a regular basis transactions. “It’s dependable and works nicely for my day-to-day wants,” she says. To trace her spending, she makes use of Observe Pockets, an app that helps her monitor and handle her each day funds.

Sophia 27 —  Entrance Desk/ Administrative Assistant

Sophia has been utilizing Optimus Financial institution for the previous two years. “The upper rate of interest in comparison with conventional banks has actually helped me develop higher financial savings habits,” she says. She additionally makes use of PiggyVest to focus on financial savings, set financial savings targets, and save with mates nearly. “PiggyVest has been a game-changer for me,” she provides.

Bamidele Emmanuel 22 — Social Media Supervisor 

Although Bamidele isn’t a fan of saving until it’s for particular targets, he makes use of fintech apps to handle his cash. For dollar-based earnings, he depends on Gray to stop overspending. He additionally makes use of Opay and Alat by Wema for saving, whereas Kuda helps him save bigger quantities, like ₦200k.

Timileyin 24 — Journalist.

Timileyin makes use of Opay primarily to handle his disposable earnings. “Its seamless switch system works completely, even with fluctuating community energy,” he says. He additionally depends on Fairmoney for loans. “It’s a licensed microfinance financial institution with respectable customer support—I’ve solely had one problem, nevertheless it was rapidly resolved.”

Trying forward

As Nigeria’s digital ecosystem evolves, extra younger folks will use fintech apps for monetary options. These instruments should not simply reshaping how younger Nigerians save and spend but additionally paving the best way for a extra financially literate era. Whether or not it’s PiggyVest for saving, Gray for worldwide funds, or Bamboo for funding, younger Nigerians more and more depend on digital platforms to handle their funds extra successfully and independently.